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Business Times
7 days ago
- Business
- Business Times
Stocks to watch: CapitaLand Ascendas Reit, Sinarmas Land, Oxley Holdings
THE following companies saw new developments that may affect trading of their securities on Tuesday (Jun 3): CapitaLand Ascendas Reit (Clar) : The manager said on Tuesday that it received in-principle approval for the listing and quotation of up to 202.4 million new units of Clar on the mainboard of the Singapore Exchange on Monday. The new units are expected to be issued under a private placement that will partially fund Clar's acquisition of a data centre in Tai Seng and a building in Science Park. Units of Clar closed Monday 1.5 per cent or S$0.04 higher at S$2.61 before the announcement. Sinarmas Land : The property development group requested a suspension in the trading of its shares to take effect from 9am on Tuesday, as the percentage of its total issued shares held in public hands has fallen below 10 per cent free float requirement. This comes as the privatisation offer by the Widjaja family-controlled Lyon Investments for all Sinarmas shares closed on Monday at 5.30pm, with the offeror's resultant shareholding amounting to around 4.2 billion shares or 98.65 per cent of the total shares of Sinarmas. The counter ended Monday 1.4 per cent or S$0.005 higher at S$0.375 before the announcement. Oxley Holdings: Its wholly owned subsidiary Oxley Rising secured a sales arrangement for 100 units at integrated development SO/ Residences, in Kuala Lumpur City Centre, for a sales value of around S$67 million, the group said on Monday. This brings overall residential sales at the development to around 75 per cent. The counter ended Monday unchanged at S$0.069 before the announcement.
Straits Times
28-05-2025
- Business
- Straits Times
CapitaLand Ascendas Reit to buy Tai Seng data centre, Science Park building for $700 million
SINGAPORE - CapitaLand Ascendas Real Estate Investment Trust (Clar) has entered conditional agreements to acquire two prime properties to expand its portfolio in Singapore, particularly in the technology sector, the manager said on May 28. The two properties are a Tier III colocation data centre at 9 Tai Seng Drive and a premium business space property at 5 Science Park Drive. With a purchase consideration of around $700.2 million, the proposed acquisitions will raise the value of Clar's Singapore portfolio by 6.6 per cent to around $11.7 billion. The Singapore portfolio will account for 67 per cent of its total assets under management (AUM) of $17.6 billion. William Tay, executive director and chief executive officer of the manager, said that the properties are leased to reputable and well-established end users and tenants in the digital, e-commerce and financial services industries, to steer Clar's portfolio towards the technology sector. 'This aligns with Clar's strategy to leverage on global growth trends in technological advancement and digital transformation, while diversifying and strengthening its customer base,' he noted. The proposed acquisition of the data centre will raise Clar's data centre AUM by 32.8 per cent to around $1.9 billion – of which 54 per cent or $1 billion will be in Singapore, while 46 per cent or $900 million will be in the UK and Europe. The property is located in the Tai Seng Industrial Estate. The manager noted that it was a strategic location for cloud service providers, enterprises and data centre players given its power availability and dense concentration of networks and direct connections to leading network service providers. Two of Clar's data centre properties, Kim Chuan Telecommunications Complex and 38A Kim Chuan Road, are located there as well. Meanwhile, the proposed acquisition of the business space at Science Park Drive will strengthen Clar's market leadership in the Singapore Business Space and Life Sciences segment, the manager added. The deal will increase the segment's total AUM in Singapore by 4.8 per cent to around $5.7 billion. The manager noted that 5 Science Park Drive is part of the 'Geneo' life sciences and innovation cluster in Singapore Science Park 1 – a key technology and research and development hub – adding that the proposed acquisition solidifies Clar's footprint in the cluster. The trust owns a 34 per cent stake in another property situated within Singapore Science Park 1, the recently redeveloped 1 Science Park Drive. The acquisitions will be partly funded by a proposed private placement of new units, with an issue price range of between $2.465 and $2.515 apiece, which aims to raise gross proceeds of at least $500 million. The manager called for a trading halt on before trading began on May 28. The counter closed up 0.4 per cent at $2.61 on May 27. THE BUSINESS TIMES Join ST's Telegram channel and get the latest breaking news delivered to you.
Business Times
29-04-2025
- Business
- Business Times
Stocks to watch: CapitaLand Ascendas Reit, Sats, Frasers Centrepoint Trust, First Sponsor, Stoneweg Reit, UOI, LMIRT
[SINGAPORE] The following companies saw new developments that may affect trading of their securities on Tuesday (Apr 29): CapitaLand Ascendas Reit (Clar) : The Reit reported a growth in portfolio rental reversions of 11 per cent in the first quarter of 2025, despite occupancy dipping, in a bourse filing on Monday. All geographies across Clar's portfolio saw a fall in occupancy, with a 1.3 per cent quarter-on-quarter (qoq) decline in total portfolio occupancy. Australia saw the biggest decrease, falling 3.3 per cent qoq to 89.2 per cent. Units of Clar closed up 0.8 per cent or S$0.02 at S$2.68 on Monday. Sats : Worldwide Flight Services (WFS) – a wholly owned subsidiary of inflight caterer and ground handler of Sats, has partnered the Port Authority of New York and New Jersey and global investment manager Realterm to open a US$270 million cargo terminal at John F Kennedy International Airport in the US. This is the airport's first new cargo terminal in 30 years, and will help to reduce congestion and streamline operations, said the three entities in a joint press release on Monday. Units of Sats closed flat at S$2.81 on Monday, before the news. Frasers Centrepoint Trust (FCT) : The manager of the trust on Tuesday posted a 0.5 per cent increase in distribution per unit (DPU) for the first half ended Mar 31 to S$0.0654, from S$0.0622 in the same period a year before. The DPU for H1 2025 will be paid on May 30. Distributions to unitholders for the period rose 4.9 per cent on the year to S$110.1 million, from S$104.9 million. Units of FCT closed unchanged on Monday at S$2.25. First Sponsor : The company reported in a bourse filing on Monday that weak market sentiments in the first quarter of 2025 continued to have an impact on its property development business in China. This was despite the easing of property-related measures and the implementation of pro-market fiscal and monetary policies by the Chinese government in the second half of 2024. First Sponsor remains cautiously optimistic that further government support this year will contribute to a gradual market recovery. Shares of First Sponsor closed up 3.8 per cent or S$0.04 at S$1.09 on Monday, before the news. Stoneweg European Real Estate Investment Trust (Stoneweg E-Reit) : The DPU of Stoneweg European Real Estate Investment Trust (SERT) declined 3.7 per cent to 3.374 euro cents for the first quarter ended Mar 31, from 3.505 euro cents in the year-ago period. This was despite a 2.4 per cent increase in net property income to 33.5 million euros (S$49.9 million), driven by higher rental income from assets and a reversal of bad-debt provisions. Gross revenue was up 0.5 per cent to 53.6 million euros in the first quarter, with 'stable leasing activity supporting income levels', said the manager in a statement on Monday. The counter closed 2.3 per cent or S$0.05 higher at S$2.21 on Monday. United Overseas Insurance (UOI): Its profit before tax for Q1 FY2025 fell marginally by 3 per cent to S$7.8 million, from S$8 million in the previous corresponding period. The fall was attributed to a decrease in non-underwriting income but partly offset by stable underwriting results, said the general insurance arm of United Overseas Bank in a financial highlight released on Monday. The counter closed Monday unchanged at S$7.75 before the news. Lippo Malls Indonesia Retail Trust (LMIRT) : The Indonesian mall property trust announced on Monday a 2.4 per cent decline in net property income to S$29.2 million for the first quarter ended Mar 31, from S$29.9 million a year prior. This came amid a 3.4 per cent depreciation of the rupiah to the Singapore dollar, said the trust's manager in a media release accompanying the results. In rupiah terms, net property income inched up by 1 per cent to 352.1 billion rupiah. This was mainly from a net reversal for an impairment loss on trade receivables, following a successful collection from a certain credit impaired tenant, it said. Units of the trust closed flat at S$0.013 on Monday, before the announcement.
